Economy of Algeria

Turkey's foreign trade deficit declined to $56 billion last year amid low oil prices and a slowdown in economic activity.        

The country's foreign trade deficit in 2016 decreased by 11.7 percent from previous year's $63.3 billion total, provisional data from the Turkish Statistics Institute (TÜİK) showed on Jan. 31.  

There will be a modest increase in GDP growth in 2016 for countries in the Europe and Central Asia (ECA) region, said World Bank in a report on Nov. 22. 

According to the latest round of the World Values Survey, only 11 percent of Turks believe that "most people can be trusted." In Germany, that number is 45 percent. When it comes to trusting others, Turks are at the bottom of the list. Yet in comparison to others, Turks save less and borrow more. The current account deficit stands testimony to that.

BELGRADE - There were 495,838 tourists in Serbia from January to the end of March this year - 17 percent more than in the same period last year, with the number of domestic and foreign tourists up by 16 and 19 percent, respectively, the national statistical office said on Wednesday.

Turkey has become the sixth largest arms importer in the world between 2011 and 2015, with the United States as the world's biggest arms supplier, according to recent research released by the Stockholm International Peace Research Institute (SIPRI).

Turkey?s foreign trade deficit declined by 39.8 percent in August to $4.89 billion compared to the same month of 2014, according to data produced by the Turkish Statistics Institute (TÜ?K) in cooperation with the Customs and Trade Ministry on Sept. 30. 

Turkey?s foreign trade deficit fell 21.6 percent in June from the same month in 2014 and 16.43 percent in the first half of the year from the same period in 2014, indicating improvement for three months in a row, data from the Turkish Statistical Institute (TÜ?K) showed on July 31. 

Tourism, the most important sector that earns foreign currency for Turkey, is having an unpleasant season. This has both internal and external reasons. Some are optimistic; some are pessimistic. The sector has named this "the year of crisis." 

This week?s domestic data released extinguished hopes that the economy was on a recovery path, while other developments once again highlighted global economic risks that could affect Turkey.

Gold sales to Switzerland have once again helped Turkey narrow its trade gap, this time dramatically to $4.96 billion in April from $7.3 billion for the same month the previous year, according to figures released by the Turkish Statistical Institute (TÜ?K) on May 29.      

The 31.9 percent decline followed an increase of 17.2 percent in March.